GIBB RIVER DIAMONDS LIMITED — Capital/Financing Update 2021

Feb 22, 2021

ASX RELEASE 23 February 2021 ASX Code: GIB

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GIB Sells Legacy Gold Royalties to Vox Royalty Corp. for A$325,000

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Gibb River Diamonds Limited (‘GIB’ or the ‘Company’) is pleased to announce the sale of three legacy gold royalties to Vox Royalty Corp. (TSXV: VOX) for a total cash consideration of $325,000.

The royalty portfolio which has been sold comprises a 1% Net Smelter Return royalty over the following projects:

• Bulgera Gold Project (E52/3276 and E52/3316) operated by Norwest Mineral Limited (ASX: NWM)

• Comet Gold Project (near Cue, E20/908) operated by Accelerate Resources Limited (ASX: AX8)

• Mount Monger Gold Project (E25/525) operated by AX8

Conditions Precedent to this transaction require third party consents to be executed (unless waived by GIB and VOX) to facilitate the sale and purchase of the royalties. It is anticipated this transaction will be completed in a timely manner.

These royalties were legacy assets held within GIB. The Company is pleased with this royalty sale to VOX, the significant cash consideration of $325,000 will be used to fund the upcoming drilling at the Edjudina Gold Project.

(This royalty deal does not cover the Edjudina Gold Project which is free from any private royalties.)

2.0 Edjudina Drilling Update

RC drilling is scheduled to commence on 1 March 2021 at the Edjudina Gold Project. Drilling will be focused on further defining and expanding the mineralised zone at the Neta Lodes discovery, which is the most significant mineralisation identified by the company to date within the 13km long gold field.

Jim Richards Executive Chairman

Enquiries To: Mr Jim Richards +61 8 9422 9555

T +61 8 9422 9555

Gibb River Diamonds Limited 1/16 Ord Street ABN 51 129 158 550 West Perth WA 6005

E info@gibbriverdiamonds.com W www.gibbriverdiamonds.com